I thought a good idea is to advise rookies to trade on cent accounts (i.e. micro accounts). Let's note the advantages:
You can start with as low as $10 or $20 instead of $1000.
You are trading with real money and the emotions attached to that.
You get a clear view of your wins and losses.
You can build a personal track record.
You can monitor the price action while gradually educating yourself in trading.
You can test strategies, systems and techniques.
Once you are ready to scale up your account, you can do that without fear.
There is one main disadvantage: you have to register with a broker that offers micro-accounts; only a few do.
Feel free to add your own thoughts or suggestions.
You can start with as low as $10 or $20 instead of $1000.
You are trading with real money and the emotions attached to that.
You get a clear view of your wins and losses.
You can build a personal track record.
You can monitor the price action while gradually educating yourself in trading.
You can test strategies, systems and techniques.
Once you are ready to scale up your account, you can do that without fear.
There is one main disadvantage: you have to register with a broker that offers micro-accounts; only a few do.
Feel free to add your own thoughts or suggestions.
Risk Management is of utmost importance!